Putin-Xi reach deal on Russian Power of Siberia 2 gas pipeline to China

Russia and China have reached an agreement on the Power of Siberia 2 gas pipeline, which will connect Siberia to northwest China, President Vladimir Putin said after talks with Chinese leader Xi Jinping.

"All agreements have been reached," Putin said on Wednesday, adding that economic cooperation between Moscow and Beijing was a "priority" for Russia.

The planned pipeline would deliver 50 billion cubic metres [bcm] of natural gas per year from Russia to China via Mongolia. 

Moscow put forward the idea many years ago, but it has gained urgency as Russia turns to China to replace Europe as its major gas customer.

Russia's Gazprom already supplies gas to China through an existing Power of Siberia pipeline under a 30-year, $400 billion deal launched at the end of 2019. 

That pipeline spans some 3,000 km.

Russia's gas exports to China are still a small fraction of the record 177 bcm it delivered to Europe in 2018-19.

Putin said on Tuesday Russia would deliver at least 98 bcm of gas to China by 2030.

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